Release date: 7 August 2019
Promoter – Financial Intermediary
NATURAL GAS PUBLIC COMPANY LTDLocation
Description
The project will finance the construction of Liquefied Natural Gas import, regasification, storage and pipeline infrastructure.
Objectives
The aim is to introduce natural gas to Cyprus. The project is a critical component of the country's energy strategy in line with the EU regulations. It will introduce for the first time natural gas with a view to enable the country to enhance its energy security, reduce cost of energy, whilst at the same time meeting its energy mix objectives and reduce CO2 and other air pollutant emissions.
Sector(s)
- Energy - Mining and quarrying
Proposed EIB finance (Approximate amount)
EUR 150 million
Total cost (Approximate amount)
EUR 312 million
Environmental aspects
The project will require an Environmental Impact Assessment (EIA) in line with EIA Directive 2011/92/EU.
Procurement
The promoter is required to tender works, supplies and services contracts following procurement rules of relevant national and EU legislation, as defined by Directive 2014/25/EU, including publication in the Official Journal of the EU where appropriate.
Status
Signed - 30/11/2020
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).